Kimbell Royalty Partners, LP Announces Quarterly Dividend of $0.41 (NYSE:KRP)

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Monday, November 18th will be paid a dividend of 0.41 per share by the energy company on Monday, November 25th. This represents a $1.64 annualized dividend and a yield of 10.28%. The ex-dividend date is Monday, November 18th.

Kimbell Royalty Partners has a payout ratio of 109.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimbell Royalty Partners to earn $0.93 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 167.7%.

Kimbell Royalty Partners Price Performance

Shares of NYSE:KRP opened at $15.96 on Friday. The business has a 50 day moving average price of $16.05 and a 200 day moving average price of $16.22. Kimbell Royalty Partners has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.96 and a beta of 1.13. The company has a quick ratio of 5.68, a current ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The company had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. During the same quarter last year, the company earned $0.19 EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. Research analysts predict that Kimbell Royalty Partners will post 0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KRP. Truist Financial reduced their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, September 30th. KeyCorp reduced their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares of the company’s stock, valued at $741,141.24. This trade represents a 9.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Partners Company Profile